Have you received a request to submit an income tax return?
Maybe you’ve just moved to the UK and this is your first experience of the UK tax system?
Technology means that geography is no longer an issue when choosing which accountancy practice to work with. What really matters when making your choice? According to PracticeWeb’s survey, 52% of people value their accountant’s ‘professionalism’ more than any other trait.
In choosing the accountancy attributes most important to you, remember the type of help you’re looking for. For example, do you need a tax expert who can minimise your tax payments, or do you want to work with someone who has an expert understanding of international trading and tax residency too?
“It’s important to bear in mind what you need from your accountant,” says Emily Bridges of re:accounts in Old Stevenage. “It’s always worth giving them a call as well as looking at their online presence. A conversation gives you a much better indication of rapport and communication style.”
Top Five Accountant Qualities
The results of PracticeWeb’s survey show what people value most from their accountant:
1. Professionalism
Professionalism topped the survey results. The quality of online information such as website and social media is crucial as it’s often the first impression of an accountancy practice. Beyond that, how easy can you have a conversation with the accountant? Do they speak in plain English, or stuffy accountancy jargon? How quickly do they respond? Do they ask key questions about your circumstances and requirements, or do you feel like a standard client with an ‘off the shelf’ package of services?
2. Accreditation
An accreditation shows that an accountant has demonstrated a level of knowledge, credibility and ethical standards. The PracticeWeb survey found that 78% of the SME owners said being chartered was an important factor, and 50% believed this was ‘very important’. They explained that:
“Being a chartered accountant comes with a requirement to complete continuing professional development each year, helping assure clients that an accountant is up-to-date with their knowledge, and is committed to working within a regulatory framework.”
We know what you’re thinking … yes! re:accounts is a chartered accountancy practice!
3. Testimonials
It’s great to understand others’ experiences of the accountancy practice you are considering. Look somewhere ‘neutral’ such as Google reviews or Trustpilot for a fair, overall impression of the business. Asking clients to offer feedback publicly in this way shows that accountants are proud of the service they offer clients, and their working style.
4. Communication
The speed of an accountant’s response is ‘important’ or ‘very important’ to 77% of respondents in PracticeWeb’s report. This is because responsiveness demonstrates care. Therefore, a prompt reply to an email or a phone call is vital in securing rapport and trust.
5. Expert Knowledge
It’s important that every accountant hones their knowledge and skills. For chartered accountants, this is an annual requirement of retaining their professional qualification. In addition, chartership gives access to industry news, thought leadership, and learning resources.
Some accountants have specialist sectors or niches. At re:accounts, our superpower is minimising our clients’ tax liability, saving them money.
Our specialist niche is international tax … a topic that director Emily Bridges has expert knowledge in. Together with her prize-winning tax understanding, re:accounts could be the perfect accountancy practice for you!
Find out more! Book an informal, discussion with Emily. You’ll have an interesting, insightful discussion without any stuffiness or jargon!
